Compare Business Electricity Rates
Take control of your business electricity rates in 2024
It’s easy to compare the latest business electricity prices. Find a cheaper deal and switch online today!
We Work With Trusted UK Business Electricity Suppliers
How to Get Our Best Business Electricity Deal
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Tell us your postcode and we'll find your meter
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Compare our best deals from top suppliers
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Choose a deal, we'll take care of the rest
Why Compare Business Electricity Rates & Switch With Us?
When you use our business electricity comparison service you will save both time and money. We compare prices from a panel of well known business electricity suppliers as well as independent providers so that you can find the best deal for your business.
Based on some basic business information, our intelligent comparison engine will let you see the latest business electricity prices in just 30 seconds. Switch online, or we’re just on the other end of the phone if you need some office hours help. You can switch suppliers anytime, even when you enjoy burning the midnight oil.
Should I Renew My Business Electricity Contract?
As your business electricity contract comes to an end, you should receive a letter between 60 - 90 days stipulating the exact end date and whether you’d be looking to renew with your current supplier. Before agreeing to continue with the same supplier, we always recommend shopping around for a better deal, to save you and your business some money that could be invested elsewhere in the company.
If you don’t renew your contract with your current supplier or fail to switch to a better deal with someone new, you could be rolled onto a deemed tariff which is usually much more inflated and expensive. So, the best time to renew your business electricity contracts is within your renewal window, to guarantee you don’t end up paying more than you should.
When you renew with BusinessEnergy.com you will be taken care of by our elite team of electricity experts. They will handle all communications with your chosen supplier and will always negotiate a better deal for you. Our electricity experts will also be able to find you the best deals when it comes back round to renewing again as your next contract ends, leaving you to run your business. We will take care of the electricity side, and communicate with you on any updates.
Business Electricity Tariffs
Like going down the aisle in your local supermarket, you can find a range of options and; find the right tariff when comparing with us. Here are some of the most popular business electricity tariffs:
Fixed-rate Tariff
Budget-friendly and easy to manage. This is one of the most popular tariffs as businesses hunting for a deal can lock in the price they find for multiple years. Unit prices will stay the same each month throughout the contract. Even when wholesale prices increase, you’re protected.
Variable-rate Tariff
On the flip side, a variable tariff is for those businesses that enjoy flexibility. The price paid per kWh will move up and down each month depending on how wholesale prices are performing. Although a risk, many enjoy the flexibility of being able to cancel.
Green/Renewable Tariff
There’s been a surge in the popularity of tariffs that offer 100% renewable electricity. Despite many thinking that these deals are much more expensive, many suppliers are offering renewable electricity as standard or pricing dedicated tariffs much more competitively.
Business Electricity Prices Per kWh
If you have got this far down the page and haven’t seen live prices for your business, you may be wondering how much your business electricity quote might be.
We’ve decided to gather some average electricity costs per kWh by size of business. This will give you a rough idea of what to expect when you go through our comparison engine (did we mention you’ll be able to see live prices in just 30 seconds?).
Business Electricity Rates By Business Size
Of course, business electricity rates change daily - so snap up a good deal when you see it! For the most accurate quote, you’ll want to see live rates.
Data correct as of April 2024. Annual cost based on a 2-year contract and the maximum kWh usage within each business size banding. These prices reflect a live market and are subject to fluctuation.
| Business Size (Annual Usage) |
Unit Price/kWh | Standing Charge | Annual Price (£) |
|---|---|---|---|
| Micro (up to 5,000 kWh) |
25.2p |
73.1p |
£895.75 |
| Small (5,000-15,000kWh) |
25.2p |
78p |
£2,803.37 |
| Medium (15,000-25,000kWh) |
25.2p |
85.1p |
£5,356.58 |
| Large (25,000-50,000kWh) |
26p |
112.5p |
£10,164.12 |
| Very Large (50,000kWh) |
25.1p |
126.2p |
£19,255.64 |
Typical Business Electricity Prices By Industry
The type of industry your business operates in will impact consumption. This translates to higher rates per kWh.
Here are some examples of prices for different types of businesses:
| Business Type | Unit Price (p/per kWh) | Estimated Usage (kWh) | Annual Cost (£) |
|---|---|---|---|
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Coffee shop/ Newsagent |
24.6p |
2,500 |
£837 |
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Hair salon |
24.3p |
10,000 |
£2,686 |
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Small farm |
25.1p |
37,500 |
£9,804 |
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Restaurant |
24.4p |
20,000 |
£5,153 |
What Impacts The Market Price Of Business Electricity?
Your business electricity rates will be impacted by market activity. These factors are:
- Demand - A rise in demand can lead to an increase in wholesale electricity costs.
- Weather - The weather can cause an increase or decrease in the demand for electricity. People will use lighting and heating more in cold and dark weather.
- Commodities - The cost of the commodities that create electricity has a significant impact on market costs. The main commodities are fossil fuels such as gas, coal and oil.
- Carbon Cost - Generators powered by fossil fuels are required to purchase a certificate for each tonne of CO2 created. This serves as a penalty for not using renewable sources such as solar, wind or combined heat and power.
- Delivery Constraints - Any outages, maintenance or connection issues can affect electricity market costs.
Business Electricity Supplier Pricing
Looking for the cheapest business electricity supplier? Although this changes almost daily, we want to provide you with a snapshot of some of the latest average electricity supplier prices. The cheapest electricity supplier for your business will change depending on how much electricity you use and your preferred tariff type.
For accurate pricing tailored to your business, you can compare business electricity prices with our easy-to-use comparison engine. All you need to get started is your postcode and you can view the latest prices in as little as 30 seconds.
Business electricity prices have fallen in recent months after peaking during the energy crisis.
Here, we’ve provided an example of average annual business electricity bill by supplier. These prices are based on a yearly usage of 25,000 kWh with a 2-year contract from April 2024.
It’s important to remember that these prices act as a guide and will change daily and depend on the specific needs of your business.
Ready to find out who today's cheapest business electricity supplier is? Click below to compare prices.
Business Electricity Supplier Unit Rates & Standing Charges
When you compare business electricity prices, you will be quotes a unit rate and standing charge.
Your unit rate is displayed in pence per kWh and is the amount you pay for each unit of electricity your business consumes. The standing charge is a daily fee paid to your supplier to maintain your electricity supply.
Here, you can view the latest business electricity unit rates and standing charges from a selection of suppliers. All prices are from April 2024 with a usage of 25,000 kWh per year for a 2-year contract.
For the most accurate prices, you can compare business electricity rates with us.
Once you've selected your tariff, you can even complete the entire switch online. If you need more support, our expert team is just a phone call away.
| Supplier | Unit Price/kWh | Standing Charge |
|---|---|---|
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Scottish Power |
23.0p |
125p |
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Smartest Energy |
26.1p |
63.1p |
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British Gas Lite |
29.4p |
62p |
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Valda |
24.6p |
66.1p |
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EDF |
24.9p |
50p |
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British Gas |
29.4p |
62p |
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Opus |
22.9p |
195.9p |
How To Reduce The Costs Of Business Electricity
Want to save even more on your business electricity bills? Look no further.
Saving money is important for all businesses. When it comes to electricity, there are simple steps you can take to reduce your usage.
- Walk around the building to see if doors are being left open, or if old energy-intensive light bulbs are being used - switch to LED. These are cost-effective remedies.
- Install motion sensor lights.
- Opt for a smart meter so you can monitor your usage more closely.
- Use management software to analyse trends and peak demand.
- Move furniture away from radiators and other heat sources.
- Turn equipment off overnight (if applicable).
Some simple changes alongside switching to a more suitable electricity tariff, can help bring those bills down even further.
Tailored Business Electricity Quotes For All Businesses
Business Electricity Rates For Small Companies
It can be difficult to find time to take care of things like switching electricity. That’s why we developed our Self Service platform after chatting with some customers. The modern small business is too busy looking after their customers during office hours, so we have built a comparison engine that allows customers to switch anytime 24-7, 365 days a year.
Commercial Electricity Rates For High Consumption Businesses
Larger business electricity consumption needs a more tailored approach. Whether you need half-hourly meters installed or multi-site, we’ll find the right solution. Our specialists will work with you to understand your requirements before shaping the perfect tariff.
Half hourly meters are the best option for large energy consumption businesses as they give more accurate readings regularly instead of rounding up your usage, so you only pay for what you're using.
All half hourly meters require a Meter Operator agreement to install and maintain the service.
These organisations can also provide management software to collect and analyse your usage data. You can use the default services from your supplier or appoint one yourself.
What you can expect after a half hourly meter installation:
- Very accurate billing with automatic meter readings sent to your supplier every 30 minutes
- Tailored electricity tariffs at great unit prices that suit your business needs
- Access your data for any of your sites and manage high-usage periods
Half hourly meters are a legal requirement for businesses with a peak demand of 100 Kilo Volt Amperes (kVa). Some businesses still choose to have a half-hourly meter installed if they do not fit into the peak demand legislation bracket.
If you’re unsure what your peak electricity demand is, the information should be displayed on your bill.
If you don’t quite meet the peak demand requirements but are still interested in having a half hourly meter installed, you’re not alone. Many companies voluntarily have one installed to help them manage their electricity consumption better or in anticipation of future growth.
Switching suppliers with a half hourly meter is very similar to the way you switch business electricity for lower consumption. The added benefit is that by using an energy retailer like us, we’ll be able to negotiate a better deal with the supplier on your behalf. This means less admin, more competitive prices, smoother transition and a more tailored approach.
Some customers are unaware they have a half hourly meter and to find out if you do, look at the MPAN number on your last energy bill. The MPAN number can be found on the top left of your bill to the right of the S.
If your MPAN number is ‘00’, you have a half hourly meter. If the number is 05, 06, 07 or 08, you’ll need to upgrade to a half-hourly meter asap.
Business Electricity FAQs
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What Is A Half-Hourly Meter?
Half-hourly meters are mandatory for large consumption businesses with a maximum demand of 100 kWh or greater in a 30-minute period.
These meters submit energy readings to your supplier every 30 minutes to ensure you’re not billed based on estimated usage.
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How To Find The Best Deal On Half-Hourly Meter Contracts?
Comparing business electricity prices as you would normally through our website is still one of the best ways to find a deal for a half-hourly meter contract quickly.
Here’s what the process looks like:
- We’ll take some basic details and meter numbers on our online comparison engine. Feel free to call our expert team if you would prefer.
- We’ll ask you to complete a Data Release Letter that enables us to obtain your current consumption data for the past year.
- We ask each energy company to bid for your contract using this information.
- Our relationships and specialist “group buy” or “basket” pricing enables us to beat other brokers by up to 10%.
- Select your preferred option to conclude the process. We’ll process the necessary paperwork to update your contracts.
- We’ll take some basic details and meter numbers on our online comparison engine. Feel free to call our expert team if you would prefer.
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What Data Do I Need for a Half Hourly Meter Renewal?
Your consumption data is collected and stored by your current provider. You can only access the information once you’ve provided a letter of authority.
This data, with your building address with postal code, is enough to obtain the latest electricity prices. Not all energy companies will bid on your contract, but the majority will offer competitive quotes.
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Are There Benefits of Having a Half Hourly Meter?
There are two main features and benefits associated with half hourly meters.
Automated Meter Readings
Half hourly meters offer large businesses more detailed and accurate information on their energy usage. This is useful for businesses seeking to increase their energy management.
Software programs allow you to import the raw data collected from a half hourly meter. From this, you can analyse trends and produce energy management reports. You’ll be able to check and monitor consumption for any cost centre or premises you manage.
Energy Management
Advanced software packages can create alarms if usage is over a certain threshold. You can highlight variances against historical trends from the information produced.
Most companies save an additional 10% on an annual basis by using these advanced analytical tools.
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What Is A Multi-Site Meter?
Got multiple business addresses? A multi-site meter allows owners to consolidate multiple buildings onto one contract and bill. This makes managing electricity usage for several sites much easier.
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Can I Get A No Standing Charge Tariff?
Some suppliers offer no standing charge tariffs. Whilst on the surface, a no standing charge tariff may seem very appealing, suppliers will usually offset this by charging a higher unit price. Businesses using a small amount of electricity could benefit from this type of tariff.
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How Long Does It Take To Switch Suppliers?
We aim to switch our customers to their new business electricity supplier within 5 working days of approval.
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Is Electricity Cheaper At Night?
Electricity is cheaper at night if an Economy 7 or 10 tariffs is selected. These are often called multi-rate meters. There could be multiple unit rates set by the provider for day, night and weekends.
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What Is A Micro Business?
There are multiple benefits to being classed as a micro business including a requirement to receive a renewal notice. Businesses are classed as ‘micro’ if they fit into one of these categories:
- Employs less than 10-people and has an annual turnover of no more than €2 million
- Uses less than 100,000 kWh of electricity annually
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Will My Electricity Supply Be Cut Off When Switching?
No, you won’t lose your business electricity supply during the switch. We will liaise with your new and old supplier to ensure your switch can take place seamlessly.
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What Is The Climate Change Levy (CCL)?
CCL is an environmental tax used to encourage businesses to become more energy efficient. Any UK business can join the Climate Change Agreement Scheme to pay reduced rates.
The 2023 CCL rate for electricity is set at 0.00775 per kWh.
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What Is P272 Legislation?
Introduced almost 10 years ago, the P272 legislation aimed to move all high-consumption users onto a half hourly meter.
This was phased in over time by energy regulator Ofgem for businesses in profile classes 5 to 8 to manage the Balancing and Settlement Code.
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Does The P272 Legislation Apply To My Business?
All businesses in profile classes 5 to 8 that have an advanced meter installed are impacted. If your profile class is in this range, you need to upgrade to a half hourly meter asap.
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What Is P322?
This is a further modification to profile classes 5 to 8 helping these businesses and suppliers move to a half hourly meter.
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How Do I Find Out The Profile Class On Half Hourly Meter?
You will find your profile class number on your electricity meter. Look at your Meter Point Administration Number and to the box right of the 'S'. This is your profile class number.